Numerous small geriatric care management businesses have failed after only a few years.
Many of these enterprises made a faulty assumption when developing their business plans. When they looked at the large volume of research and demographic data published in dozens of studies funded they saw a well-documented need for the services provided by private care managers to the tune of 65 million people.
Looking at this large and growing need for services, they confused “need” with “demand.” The fact is that the services of private fee-based geriatric care managers, are only affordable to a very small percentage of the population.
The April 30, 2010, issue of the Wall Street Journal reported that 10% of Americans controlled 75% of the wealth in this country.
Only this 10% can afford geriatric care management
The target market for such a business is not the 65 million families who need geriatric care management services but the much smaller subset of those families, who can afford to hire a care manager,
Learn about Private Revenue Sources for GCM’s and why you have to work with the top 10% who can afford GCM’s
Get the new Handbook of Geriatric Care Management 4th edition now– or out in Kindle on Amazon in November (to keep up with technology)